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Author Question: In the long run, does it matter whether a policy action was anticipated or not? What will be an ... (Read 66 times)

hbsimmons88

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on: Jun 30, 2018
In the long run, does it matter whether a policy action was anticipated or not?
 
  What will be an ideal response?

Question 2

Consider the two graphs above. Suppose that improvements in technology enable farmers to produce two or more harvests of the same crop each year. This would ________ the desired level of inventories, as depicted in graph ________.
 
  A) increase; B
  B) increase; A
  C) decrease; B
  D) decrease; A


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qytan

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Reply #1 on: Jun 30, 2018
Answer to Question 1

In the long run, output is potential output. The response to an anticipated policy action comes sooner, but is ultimately no different than the delayed response to a recognized policy. Nonetheless, it does matter whether or not the policy had been anticipated, because anticipated policies are less destabilizing to output.

Answer to Question 2

D


hbsimmons88

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

ecabral0

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Reply 3 on: Yesterday
Gracias!

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